his study examines the effect of profitability and liquidity on firm value with stock price as a mediating variable in property and real estate companies listed on the Indonesia Stock Exchange during 2020–2024. A quantitative approach was employed using secondary data from 55 companies (275 observations) selected through purposive sampling. Data were analyzed using multiple linear regression and the Sobel test. The results indicate that profitability, liquidity, and stock price have a positive and significant effect on firm value. Furthermore, stock price partially mediates the effects of profitability and liquidity on firm value.
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